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What are ?executory contracts? and ?unexpired leases?? An executory contract is a contract where both parties still have important things to do. An equipment lease is an executory contract. An unexpired lease is a lease that is ongoing like a car or truck lease or an apartment lease.
Executory refers to something (generally a contract) that has not yet been fully performed or completed and is therefore considered imperfect or unassured until its full execution.
An executory contract is a contract that has not yet been fully performed or fully executed. It is a contract in which both sides still have important performance remaining. However, an obligation to pay money, even if such obligation is material, does not usually make a contract executory.
An executory contract is an ongoing agreement between two parties who are responsible for completing certain obligations over a set period of time. They are written agreements that ensure each party is clear about their own and the other's responsibilities.
????? An executory contract [4302.10]is a contract that has not yet been fully performed by one or more parties.